CLIQ Reports First Quarter 2025 Results

Core Insights - CLIQ Group reported a significant decline in sales and customer metrics for Q1 2025, with total sales down 32% year-on-year to €50 million, primarily due to challenging market conditions [4][5] - The expected average lifetime value (LTV) of a customer decreased by 14% to €70, reflecting higher churn rates and a reduction in the number of paying customers to 0.8 million [4][11] - The company is undergoing a transformation program named "Fit For Future," aimed at improving cost efficiencies and productivity, which has been largely concluded but will continue to optimize operations [11][13] Financial Performance - Sales in North America fell by 24% and in Europe by 50%, while Latin America saw a slight increase of 4% [5] - Total customer acquisition costs decreased by 49% to €15 million, indicating a strategic shift towards profitability [5] - EBITDA before special items was €4 million, down 31% year-on-year, but the EBITDA margin remained stable at 7% [5][6] Cash Flow and Liquidity - As of March 31, 2025, the net cash position improved to €14 million from €12 million at the end of 2024 [6] - Operating free cash flow turned positive at €2 million, compared to a negative €4 million in Q1 2024, driven by a positive change in working capital [6] Customer Metrics - The number of unique paying customers decreased to 0.8 million from 1.1 million year-on-year, reflecting a focus on profitability over sales growth [11] - The lifetime value of the customer base declined by €35 million to €101 million, attributed to the reduction in customer numbers and lower expected LTV [11] Outlook - For 2025, CLIQ anticipates generating EBITDA between €10 million and €15 million, with expected sales ranging from €180 million to €220 million [12]